CFTC to Host Cryptocurrency CEO Forum to Discuss Digital Asset Market Pilot Program

Polymarket has announced the establishment of the Polymarket Institute, which will focus on researching information discovery and predictive capabilities of prediction markets. The institute will launch a one-year research program, with initial funding provided to 12 doctoral researchers, each receiving $10,000. Applications will open on August 18. Participants are prohibited from trading on Polymarket or similar platforms during their tenure; all research findings and code must be made public, and researchers retain the right to independent publication. (Fortune)

Citrini Research’s Korean-American analyst Jukan commented on South Korea’s regulatory stability policy announced tonight, stating: “These measures are deeply disappointing. They are merely symbolic, performative gestures with almost no practical value.” Jukan questioned the regulators, asking: “Why were these products allowed to exist in the first place? Even if the government blocks new capital inflows, existing holdings will still face liquidation pressure, won’t they? Do they really think education alone can solve this problem?”

New York-based AI detection startup Pangram announced it has closed a $9 million funding round led by Menlo Ventures, with participation from Haystack, ScOp, Script Capital, and Cadenza. Pangram also unveiled its next-generation AI text detection model Pangram 4 and AI image detection model Pangram Image. The text detection model boasts an accuracy rate of over 99% and can identify AI-assisted writing, human-AI hybrid content, and text generated by AI humanization programs. The image detection model is currently in the research preview phase, leveraging pixel-level distribution analysis to recognize AI-generated images across different models and detect AI images embedded within real photographs.

Grayscale CEO Peter Mintzberg has filed Form 144 with the U.S. Securities and Exchange Commission (SEC) to sell 2,611 shares of the Grayscale XRP Trust ETF (ticker: GXRP), with a total value of approximately $53,400, equivalent to $20.45 per share. Earlier, founder Barry Silbert and Chief Legal Officer Craig Salm submitted similar applications in January this year, when the per-share price stood at around $37, meaning Mintzberg’s current selling price is roughly 45% lower. Notably, GXRP’s outstanding share count has plummeted from 5.79 million to 2.84 million over the past six months, a roughly 51% drop, reflecting that redemption pressure has consistently outpaced subscriptions. Currently, the total net assets of U.S. spot XRP ETFs reach approximately $971.6 million, with GXRP accounting for around 6% of the total.

Bernstein cuts Circle’s price target from $190 to $140, while maintaining an Outperform rating. Analyst Gautam Chhugani noted that the Open USD Alliance—backed by over 140 institutions including Visa, Mastercard and Stripe—poses a smaller threat to Circle than the market had anticipated. As of July 28, Circle closed at $64.32.

Renowned crypto trader 0xLeaf (@3ethtomoon) posted on X today that he is experiencing the "darkest moment of his life," noting he has lost roughly $60 million over the past month, wiping out all his crypto holdings. According to public records, 0xLeaf entered the crypto space around 2021, scoring multiple 100x gains by trading meme coins including BOME, MOONDENG, ACT, PNUT, and TRUMP. After the TRUMP coin rally, his centralized exchange (CEX) account once peaked at $6 million. However, this year’s extreme AI-driven market trend has left the prominent trader reeling. Market volatility is an inherent part of trading, and downturns often serve as opportunities for reflection and consolidation. We hope these traders, who have delivered impressive results in the past, can regain their rhythm amid adjustments and continue writing their own stories moving forward.